RALEIGH -- Insurance Commissioner Wayne Goodwin today
announced the arrest of Joseph Preston Alligood, 32, 762 Okisko Road, Elizabeth City. Alligood,
an independent insurance agent, is charged with 13 counts of embezzlement by an insurance agent.
According to the investigation, Alligood allegedly submitted insurance premium paperwork on behalf
of new customers, but always with some missing information. When the insurance company returned the
premium paperwork, Alligood kept the refund. He owned his insurance agency in Edenton from 2007 to
2008. Alligood is accused of embezzling at least $9,564.

Alligood was processed by the Chowan County Sheriff's Office. He was
placed under a $36,000 unsecured bond and is scheduled for trial in late January. His insurance agency
is now closed.

The Department of Insurance employs 20 sworn law enforcement officers
dedicated to investigating claims of insurance fraud. So far in 2009, these criminal investigators
have seen more than 241 cases successfully closed with more than $9.7 million in restitution and
recoveries, 67 criminal convictions and 123 arrests and 92 cases pending in court.

An estimated 10 cents of every dollar paid in premiums goes toward the
payment of fraudulent claims. To report suspected fraud, contact the Department of
Insurance Investigations Division at (919) 807-6840. Callers may remain anonymous.
Information is also available at the
NC-DOI Web site.